Finance Management - Strategy and Targets
As a finance manager I calculate
the resources used by the firm such as premises rent, furniture, equipment,
materials and interest of loans. Human resources costs are also calculated by
me, depending on the job and task carried out and the duration. I also make
decisions and meetings with the clients who fund us such as banks, private investor
and the local government. I create a table which allows me to keep on top of
revenue items (staff salaries, overheads &expenses), interest payments (repayments),
taxation (corporation tax, local business rates) and dividends (paid to
shareholders) and remainder (retained profit). This is updated when needed. I
also calculate how much the firm needs to keep running and the size of the
overdraft needed to request when required. On a daily basis, I carry out
verification and validation methods on the data stored to ensure there are not
any inconsistencies and errors.
Targets:
5% retained profit
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